Why does my credit score differ from the bank?

The credit score you see and the one your lender uses may be different for several reasons. Another reason the scores differ might be because there’s more than one credit scoring model, and there’s no guarantee the one you’re using to check your own credit is the same one your lender relies on.

Why is my bank FICO score different than Experian?

This is due to a variety of factors, such as the many different credit score brands, score variations and score generations in commercial use at any given time. These factors are likely to yield different credit scores, even if your credit reports are identical across the three credit bureaus—which is also unusual.

Do banks use FICO score vs credit score?

FICO® scores are commonly used by lenders to assess your credit risk, but other credit scores can also give you a good idea of where you stand. In other words, your FICO® scores are just one type of credit score you can get.

Which FICO score do banks use?

The scoring model used in mortgage applications While the FICO® 8 model is the most widely used scoring model for general lending decisions, banks use the following FICO scores when you apply for a mortgage: FICO® Score 2 (Experian) FICO® Score 5 (Equifax) FICO® Score 4 (TransUnion)

Which FICO score does Bank of America use?

The FICO® Score Online Banking provides is a FICO® Score 8 based on TransUnion Data.

What is the difference between Fico and FICO® scores?

Many people use the terms FICO, FICO ® Scores, Credit Scores, Credit Bureau, Credit Reporting Agency, etc. interchangeably – as though they have the same meaning. These types of statements often create confusion. Some people think FICO is a credit bureau and some people think that FICO is just a unit of measurement, like Fahrenheit!

Why is my credit score different at each credit bureau?

Each bureau collects or stores borrower information a little differently, so you can expect that your credit report data at one bureau could be different than your credit report data at another bureau. This is a reason why your FICO Score can be different for each bureau.

What FICO score does Citibank use?

Citibank uses the FICO Bankcard 8 score based on Equifax data. Bank of America probably uses a different scoring model and/or bureau; if you read the fine print you can probably figure out what they pull. 11-16-2016 10:22 AM 11-16-2016 10:22 AM

Why does my credit card report have different values than mine?

That’s because the actual data on that report couuld have changed. In fact that is common. Your credit cards are pulling your FICO scores at different times during the month, so this is one more reason they would have different values. 11-16-2016 10:30 AM